Tokyo Stocks Fall 79 Points
TOKYO (AP) _ Stock prices fell moderately early Tuesday after a string of recent gains. The dollar was lower against the yen.
The benchmark 225-issue Nikkei Stock Average shed 78.96 points, or 0.56 percent, to 13,953.46 in the first hour of trading. On Monday, the average closed up 43.30 points, or 0.31 percent.
The dollar bought at 116.50 yen, down 0.35 yen from late Monday in Tokyo but above its late New York level of 116.39 yen.
On the stock market, the Nikkei index moved lower as investors locked in profits following a seven-day advance totaling 829.35 points, or 6.3 percent.
In New York, the Dow Jones industrial average shed 9.35 points to 10,578.24 at Monday’s close. The Nasdaq composite index ended at 2,757.91, down 12.47.
The broader Tokyo Stock Price Index of all issues listed on the first section was down 7.96 points, or 0.61 percent, to 1,305.05. The TOPIX closed up 0.22 points, insignificant in percentage terms, the day before.
In currency dealings, the dollar drifted in a narrow range against the yen amid a lack of major market-moving news.
In other currencies, the euro was traded at 109.56 yen, up from 109.26 yen late Monday in Tokyo.
The yield on the benchmark 10-year Japanese government bond stood at 1.4700 percent, unchanged from Monday’s finish. Its price remained unchanged at 101.14.
On the Net:
Tokyo Stock Exchange: http://www.tse.or.jp